The Average Salary in South Africa is R22500.00. However, due to high levels of inequality in the country, this average is not reflective of what the majority earn.
South Africans are among the most hardworking nationals in the world. The proof is in the country’s economy. South Africa boast $365 Billion dollars (R 6.4 trillion) in GDP for the year 2018. The country has the 2nd largest economy in Africa.
The country’s per capita is sitting at $6374.00 (R115000.00). But what is the average in South Africa and where does it stand among the rest of Africa?
Unemployment is a serious issue in South Africa and it is currently sitting at 29%.
For those active in the job market their average salary is R22500.00.
However, since the amount is not evenly distributed, majority of employed people in South Africa earn less than the average salary. In fact, they earn less than R20000.00 per month.
The government has been working to deal with income inequality for some time. Today the struggle still continues. BBBEE was introduced to curb income inequality in the early 2000s and it is still in play. The policy seem to have lost touch in recent years.
Earning an average income in South Africa can be a daunting task to many. For professionals a starting salary can be as low as R13,500.00 per month. Reaching the R22,500.00 average salary will take years of hardwork to accomplish.
Salaries also tend to differ by work experience. Here is a graph prepared by Salary Explorer
Average salary is calculated by accounting for all salaries in the country by adding them up. After adding them the total is divided by the number of salaried employees.
South Africa has achieved great results, it however still has many challenges it ought to address, chief amongst them being the issue of uneven Salary Distribution. A huge amount of South Africans can not afford to have a premier bank account. This excludes many from enjoying banking facilities in the country.